..Why You Should Never Lose Interest in Bitcoin You can listen to people talking about cryptocurrency a lot because it has provided investors with a new way to diversify their investments. Most investors favor Bitcoin (BTC) for investment as BTC has become the leading cryptocurrency by market capitalization, thanks to its positive adoption and profitability.
But the current bearish run in the crypto market is perplexing many minds. Investors are thinking other ways and are worried about the future of their crypto investments.
So, what can you do in such circumstances?
Bitcoin has come a long way and giving a tough time to the believers of Fiat or traditional currency. BTC has gone through such bearish runs in the past too but only those investors achieved success with it who believed in its versatile nature.
Let us find out why you should never lose interest in Bitcoin.
A Safe Currency
Launched in 2009, Bitcoin was an unknown currency to many around the world and financial experts believe it to fail soon. But BTC has withstood the test of time and investors have invested huge sums of money in it.
Bitcoin can be defined as a digital or virtual currency that is supported by blockchain technology. The transactions of BTC are recorded on a publicly distributed ledger for enhanced convenience of its users.
Bitcoin is protected by cryptography which consists of complex mathematical problems and makes it hard for hackers to hack it. In addition, BTC has the highest hash rate among cryptocurrencies, making it the safest deal.
Given that Bitcoin is a decentralised currency, neither a bank nor a government can meddle with your wealth, thus you should be aware of this. BTC allows you freedom from the traditional banking system, but it also acts as a hedge against inflation because of its protocols, which allow for the trading of a finite amount of the cryptocurrency.
You can start your Bitcoin investment by creating an account on a crypto exchange platform such as Binance, Coinbase, and more. But you need to be careful when choosing a platform and confirm whether it is properly working in your area or not.
Bitcoin has been supported by many global leaders as the best alternative to Fiat or traditional currency and one such crypto global leader is Carl Runefelt, alias, The Moon.
He emphasizes, “Bitcoin is going up year over year, and in times of uncertainty, we’ve seen that people increasingly turn to Bitcoin as a form of money and store of value because Bitcoin is the only money in the world that has no political attachment. With Bitcoin, you can pass a border with your private keys in your head and traverse the world with millions of dollars trapped in your brain. Your bank money can be frozen, and your gold can be seized.
Incredible Returns
Your major motive behind an investment would be to increase your wealth and protect it. Considering the financial challenges existing in the traditional setups, it becomes extremely difficult to achieve your targets.
But Bitcoin is designed to work in other ways and help you increase your wealth manifold. One of the reasons to never doubt Bitcoin is its potential for incredible returns.
BTC was valued at mere pennies in the beginning, but things have quite changed since then. Today, Bitcoin is the most valued cryptocurrency available for investment and those who hold on to it in difficult times, have earned a lot of money with it.
Investors around the world made a lot of money with Bitcoin when it reached a remarkable value of $70,000 in 2021. In addition, Bitcoin has always been the cryptocurrency offering the best returns to its users.
Inflation Hedge
A huge challenge that you face in the financial market is inflation, which refers to rising living costs. Inflation has been one of the gravest challenges that financial experts are still unable to control.
Increasing prices of goods and services effectively reduce your wealth. The situation is even direr in developing countries where poverty is rising due to higher prices of commodities.
Bitcoin, however, offers an inflation hedge to its users because it comes with a limited supply.
Carl, on his YouTube channel, The Moon, says, “Bitcoin is the best hedge against inflation that we have in the world right now, and Bitcoin is also the best form of money that we have and have maybe ever seen in the history of humans.”
Because of the way Bitcoin’s protocols are designed, you are not permitted to use it beyond the given limit. A BTC user can trade only a limited number of Bitcoins which effectively reduces inflation.
While on the other hand, monetary adjustments lead to more printing of Fiat or traditional currencies which results in rising prices. So, you should be careful in future and make your choices wisely.
Financial Freedom
Getting freedom from traditional financial institutions like banks or government departments is a daydream for many. Banks make policies to keep you engulfed in multiple official procedures which not only waste money but also your precious time.
Even a simple process such as sending money to a loved one can be difficult. For example, banks charge higher fees for international transactions and some even don’t allow it.
Now if you want to enjoy financial freedom, you should never lose interest in Bitcoin. You should know that Bitcoin is an unregulated currency, and no financial institution can bind you.
With Bitcoin, you can easily make a cross-border transaction at any time because BTC is working 24/7. Furthermore, the transaction fees with Bitcoin are exceptionally lower compared to bank transactions.
Conclusion
Successful crypto investors have always stood by Bitcoin, thanks to its versatile nature and multiple benefits.
Crypto experts believe Bitcoin is a long-term investment. A bearish run in the crypto market should not dent your trust in BTC.
Bitcoin has been through such tumultuous runs in the past but has always bounced back strongly.
So, it is in your hands whether you want to hold on to your Bitcoin investment and make a lot of money in future or sell it when its price is low.
